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Repossession order or suspended !

emvic
Posts: 18 Forumite
hi all,
recently i have came into difiiculty with my mortgage, my husband lost his job in January, (i hve 3yrd daughter, we tried to pay as much of our mortgage each month, we made regular contact with our lender via telephone, in May we made no mortgage payment due to me getting ssp pay, as i had been off sick with stress/anxiety. (i was not expecting ssp) Carl started his new job in June 09, again we advised GE money of our situation, july 15 rang my mortgage lender to set up a payment plan, my financial adviser (who got our mortgage last year) spoke with my lender with a 54min long conversation, as they were asking 175.00pw, i said cud not afford that finally agreed with a manager for me to pay 160.00 per week over 12wk period, as my husband was getting paid weekly for his 1st 3months, when i was ringing up weekly basis they were saying there was no agreement of this !!!!!
i have continued to make this payment, i hve fallen short on 2payments but i hve explained this situation to GE money,
2wks ago i set up a new direct debit for end of sept - when hopefully my husband should be on his month wage, they just set up the dd for standard payment and told me to ring in and pay any additional amount.
i recd respossession ppwk last week, I spoke to GE money they said they were going for suspeded order, on the court ppwk shows that GE money have had no/lack of communication with us, - which is just NOT true.
We are just over 3month in errears of 2205.00.
When i made my payment yest GE money asked me to put a payment plan in place as this will look better in court but they asking me pay pay an extra 100.00 on top of my mortgage, i hve said this is too much, i willing to pay extra 70.00. they said well they can go for possession then cos i am not agreeing to anything, i told them well is it not for the court to decide now !!!
I am scared, i hve spoke with CCCS given spenditure, they will be calling me 10 Sept,
anyone else in similar situation, what chances do you think they will repoccess us. surely they can see that i am trying,, end of day we are not refusing to pay anything,, since the court ppwk came thro i have payed 530.00.
help pls.... xxxx
recently i have came into difiiculty with my mortgage, my husband lost his job in January, (i hve 3yrd daughter, we tried to pay as much of our mortgage each month, we made regular contact with our lender via telephone, in May we made no mortgage payment due to me getting ssp pay, as i had been off sick with stress/anxiety. (i was not expecting ssp) Carl started his new job in June 09, again we advised GE money of our situation, july 15 rang my mortgage lender to set up a payment plan, my financial adviser (who got our mortgage last year) spoke with my lender with a 54min long conversation, as they were asking 175.00pw, i said cud not afford that finally agreed with a manager for me to pay 160.00 per week over 12wk period, as my husband was getting paid weekly for his 1st 3months, when i was ringing up weekly basis they were saying there was no agreement of this !!!!!
i have continued to make this payment, i hve fallen short on 2payments but i hve explained this situation to GE money,
2wks ago i set up a new direct debit for end of sept - when hopefully my husband should be on his month wage, they just set up the dd for standard payment and told me to ring in and pay any additional amount.
i recd respossession ppwk last week, I spoke to GE money they said they were going for suspeded order, on the court ppwk shows that GE money have had no/lack of communication with us, - which is just NOT true.
We are just over 3month in errears of 2205.00.
When i made my payment yest GE money asked me to put a payment plan in place as this will look better in court but they asking me pay pay an extra 100.00 on top of my mortgage, i hve said this is too much, i willing to pay extra 70.00. they said well they can go for possession then cos i am not agreeing to anything, i told them well is it not for the court to decide now !!!
I am scared, i hve spoke with CCCS given spenditure, they will be calling me 10 Sept,
anyone else in similar situation, what chances do you think they will repoccess us. surely they can see that i am trying,, end of day we are not refusing to pay anything,, since the court ppwk came thro i have payed 530.00.
help pls.... xxxx
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It sounds from what you have said above that although you have stayed in contact from your point of view with GE that there hasn't really been any productive arrangement agreed or maintained. As this issue has gone on since your husband unfortunately lost his job in January the problem has remained without a firm agreement in place and as such there are no doubt arrears and charges mounting on your mortgage balance.
Now from what you say above it doesn't sound like GE have been particuarly forward in their advice to you in which is the best way forward, for instance in my opinion in January they should have sat you down and filled out a full budget planner to see what your outgoings and income were and agreed a reduced payment for a couple of months, at the end of this point it to be reviewed with the hope that your husband would have found work or the fact that after 13 weeks on JSA you can apply for income support mortgage interest relief payments - did you claim this?
In July when they asked you to set up an arrangement (unbelievable it took this long) did they go through a full budget planner with you?
I don't understand the part about the weekly pay and an arrangement because if you could afford the monthly arrangement I don't see why you couldn't either set the money aside each week or pay it to them each week.
I don't understand if you are in arrears and GE want the money and if it is easier for you to send money weekly why you can't and whilst I accept that they won't want to set up a direct debit for a weekly payment there shouldn't be anything stopping you setting up a standing order payment.
Now from what you say above although you consider that you have kept in touch with GE there has been no formal arrangement in place for the term of the arrears, which as I said is not really your fault but now obviously they have decided to formalise the arrangement and ask for a suspended court order to back up an agreed arrangement. Now they may want XYZ from you as an arrangement but if you can't afford it then a court won't agree it, the court essentially will side with you the client and will assess what you can genuinely afford as they won't want an agreement to be set up under order for it to be just broken. If they are looking for a suspended order based on the arrears they will get it, this will only become a full possession order if the said suspended order is not maintained and they would have to go back to court for this to happen.
Now I am assuming that as you were with GE that there have been credit history issues in the past/present and that you have probably got other unsecured or secured debts, it is absolutely essential that these debts are now prioritised and dealt with in order of importance i.e secured debts first, council tax, utilities, then unsecured debts following up behind. If you are still using credit then this must be addressed and stopped.
A useful leaflet is this one
http://www.moneymadeclear.fsa.gov.uk/pdfs/mortgage_cantpay.pdf
Further help can be found
http://england.shelter.org.uk/get_advice/families_and_relationships
for other debt issues you can get help from CCCS online and National Debtline, they have very useful budget planners etc. Don't wait until 10 September.
Also would be worth looking at the debt free wannabe board for help with unsecured debt etc.
It is very, very important that you put together a very comprehensive budget planner detailing literally everything that you have outgoing, other debt etc and that all the debt issues are dealt with, including payment plans etc. As no point in putting the mortgage on track and other things sliding, or robbing peter to pay paul etc. The whole picture needs to be looked at.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
It is a shame that your lender is trading, just, albeit at sky high rates. Therefore they would pursue repo sooner as they are seriously lacking funds.
Although you have been in touch with them, continual flouting of payment payment plans, for whatever the reason , will not hold down to easily with a sb prime lender as opposed to a mainstream provider. Good luck.0
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